Defense Metals Signs MoU with Strategic Partner
Defense Metals Signs MoU with Strategic Partner
VANCOUVER, BC
,
April 28, 2025
/CNW/ -
Defense Metals Corp
. ("
Defense Metals
" or the "
Company
";
(TSXV: DEFN) (OTCQB: DFMTF) (FSE: 35D) is pleased to announce the signing of a non-binding
memorandum of understanding dated
April 25, 2025
with a major potential strategic partner for entering into a
supply agreement representing a significant portion of its planned output.
Mark Tory
,
President and CEO commented:
The interest shown by our potential strategic partner reflects growing industry confidence that Wicheeda
could indeed become a strategically important source of rare earth elements based on the convincing
results of our detailed pre-feasibility study published earlier this month. We still have a lot of work to do do
to turn our project into reality, but this MOU is certainly a major step in the right direction."
About Defense Metals Corp. and its Wicheeda REE Deposit
Defense Metals Corp. is focused on the development of its 100% owned, 11,800-hectare (~29,158-acre)
Wicheeda Rare Earth Element (REE) property that is located on the traditional territory of the McLeod Lake
Indian Band in
British Columbia, Canada
.
The Wicheeda Project, approximately 80 kilometres (~50 miles) northeast of the city of
Prince George
, is
readily accessible by a paved highway and all-weather gravel roads and is close to infrastructure, including
hydro power transmission lines and gas pipelines. The nearby Canadian National Railway and major highways
allow easy access to the port facilities at
Prince Rupert
, the closest major North American port to
Asia
. The
Company recently completed a Preliminary Feasibility Study (PFS) that demonstrated the robust economics
of the project.
For further information, please visit
www.defensemetals.com
or contact:
Mark Tory
President and CEO
Tel: +1 604-445-8179
Email:
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news
release.
Cautionary Statement Regarding "Forward-Looking" Information
This news release contains "forward
looking information or statements" within the meaning of applicable
securities laws, which may include, without limitation, any statements (expressed or implied) relating to:
advancing the Wicheeda Project, the process flowsheet and other matters. Forward-looking statements are
typically identified by words such as "plan," "believe," "expect," "anticipate," "intend," "outlook," "estimate,"
"forecast," "project," "continue," "could," "may," "might," "possible," "potential," "predict," "should," "would" and
other similar words and expressions, but the absence of these words does not mean that a statement is not
forward-looking. All statements in this news release, other than statements of historical facts, that address
events, contribution or developments that the Company expects to occur, are forward-looking statements.
Although the Company believes the expectations expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of future performance and actual results may
differ materially from those in the forward-looking statements. Such statements and information are based on
numerous assumptions regarding present and future business strategies and the environment in which the
Company will operate in the future, including the price of rare earth elements, the anticipated costs and
expenditures, the ability to achieve its goals, that general business and economic conditions will not change in
a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such
forward-looking information reflects the Company's views with respect to future events and is subject to risks,
uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration
and metallurgical results, risks related to the inherent uncertainty of exploration and development and cost
estimates, the potential for unexpected costs and expenses and those other risks filed under the Company's
profile on SEDAR+ (
www.sedarplus.ca
). While such estimates and assumptions are considered reasonable
by the management of the Company, they are inherently subject to significant business, economic, competitive
and regulatory uncertainties and risks. Factors that could cause actual results to differ materially from those in
forward looking statements include, but are not limited to, continued availability of capital and financing and
general economic, market or business conditions, adverse weather and climate conditions, failure to maintain
or obtain all necessary government permits, approvals and authorizations, failure to maintain or obtain
community acceptance (including First Nations), risks relating to unanticipated operational difficulties (including
failure of equipment or processes to operate in accordance with specifications or expectations, cost
escalation, unavailability of personnel, materials and equipment, government action or delays in the receipt of
government approvals, industrial disturbances or other job action, and unanticipated events related to health,
safety and environmental matters), risks relating to inaccurate geological, metallurgical, engineering and
pricing assumptions, decrease in the price of rare earth elements, the impact of viruses and diseases on the
Company's ability to operate, restriction on labour and international travel and supply chains, loss of key
employees, consultants, officers or directors, increase in costs, delayed results, litigation, and failure of
counterparties to perform their contractual obligations. In addition, the MOU is non-binding and subject to the
parties entering into a definitive offtake agreement. The Company does not undertake to update forward–
looking statements or forward–looking information, except as required by law.
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SOURCE
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CNW 17:01e 28-APR-25